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How the Industrial Internet of Things (IIoT) Applications are Shaping Our Future

Currently we’re in the middle of what the World Economic Forum calls the “Fourth Industrial Revolution”, and 2019 is turning out to be the year of the IIoT.

The First Industrial Revolution, marked the initial shift to factories and mass production, powered largely by water and steam.

The Second Revolution, employed electric power for mass production of goods.

The Third Revolution , The Digital Revolution, used electronics and information technology to automate production. This is where we began to move from mechanical and analog worlds to digital incarnations, setting the stage for the Fourth Revolution.

The Fourth Revolution has ushered in the age of smart manufacturing. The Industrial Internet of Things brings together brilliant machines, advanced analytics and human workers. It’s a network consisting of a multitude of devices, connected by communications technologies that provides systems able to monitor, collect, exchange and analyze data. These insights can in turn help drive smarter, faster business decisions for industrial companies of all sizes and shapes.

The global IIoT market is predicted to grow from $2.99 trillion in 2014 to $8.9 trillion in 2020. The IIoT presents vast possibilities for instrumentation, leading to major efficiency and productivity gains for almost any operation.

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